It’s a done deal! Eleven years after the disappearance of the king of pop, his great property the Neverland ranche located in Los Olivos, California, was sold to a businessman from Montana: Ron Burkle. The latter was a time business adviser to Michael Jackson acquired this property for a reduced sum.
American Montana billionaire Ron Burkle now owns Michael Jackson’s extensive ranch in Neverland, California. The new buyer has taken out approximately $22 million, which is below the original selling price. The announcement was made on Thursday, December 24, 2020 by its spokesperson. Ron Burkle has investments ranging from supermarkets to the music industry. This latest acquisition is a “real estate banking opportunity” according to his spokesperson.
As a reminder, and according to the press, Michael Jackson would have acquired this property for $19.5 million in the 1980s. The initial selling price of the ranche was $100 million, an estimate dating back to 2015. However, by 2019, the price had already dropped to $31 million without ever finding a buyer.
The ranch is located on 1,100 hectares of land 65 km from Santa Barbara. The huge and spectacular property has a main house with six bedrooms, three guest houses, a lake with a waterfall, tennis courts, several barns and animal shelters.